Atlassian Co. (NASDAQ:TEAM) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 24.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,562 shares of the technology company’s stock after selling 20,270 shares during the period. Rafferty Asset Management LLC’s holdings in Atlassian were worth $15,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC lifted its holdings in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new position in Atlassian in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian in the fourth quarter valued at approximately $39,000. Finally, Avion Wealth lifted its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent analyst reports. KeyCorp decreased their price objective on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Citigroup upped their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $285.29.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 541 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $122,000.91. Following the completion of the transaction, the chief accounting officer now owns 51,481 shares in the company, valued at $11,609,480.31. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the transaction, the chief executive officer now directly owns 230,492 shares in the company, valued at approximately $72,362,963.40. The trade was a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,301 shares of company stock valued at $60,975,089 over the last quarter. 38.55% of the stock is owned by insiders.

Atlassian Stock Down 1.8%

Atlassian stock opened at $220.88 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The stock’s fifty day simple moving average is $213.69 and its 200-day simple moving average is $246.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $57.87 billion, a P/E ratio of -164.83 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.